3M Co (NYSE:MMM) Shares Bought by San Francisco Sentry Investment Group CA

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San Francisco Sentry Investment Group CA raised its stake in 3M Co (NYSE:MMM) by 2.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,554 shares of the conglomerate’s stock after acquiring an additional 80 shares during the period. San Francisco Sentry Investment Group CA’s holdings in 3M were worth $584,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of MMM. Nuveen Asset Management LLC boosted its stake in 3M by 1,337.4% in the second quarter. Nuveen Asset Management LLC now owns 2,830,790 shares of the conglomerate’s stock valued at $490,689,000 after acquiring an additional 2,633,848 shares during the period. Thoroughbred Financial Services LLC boosted its stake in 3M by 17,524.1% in the second quarter. Thoroughbred Financial Services LLC now owns 1,680,806 shares of the conglomerate’s stock valued at $168,081,000 after acquiring an additional 1,671,269 shares during the period. Point72 Asset Management L.P. boosted its stake in 3M by 351.5% in the second quarter. Point72 Asset Management L.P. now owns 540,727 shares of the conglomerate’s stock valued at $93,730,000 after acquiring an additional 755,727 shares during the period. BlackRock Inc. boosted its stake in 3M by 1.2% in the second quarter. BlackRock Inc. now owns 39,134,895 shares of the conglomerate’s stock valued at $6,783,640,000 after acquiring an additional 472,084 shares during the period. Finally, Vanguard Group Inc. boosted its stake in 3M by 0.8% in the second quarter. Vanguard Group Inc. now owns 49,688,700 shares of the conglomerate’s stock valued at $8,613,040,000 after acquiring an additional 407,636 shares during the period. Institutional investors own 66.78% of the company’s stock.

MMM opened at $163.10 on Friday. The company has a market capitalization of $94.08 billion, a price-to-earnings ratio of 15.59, a price-to-earnings-growth ratio of 1.88 and a beta of 1.11. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.93 and a quick ratio of 1.34. 3M Co has a 1-year low of $150.58 and a 1-year high of $219.75. The business has a 50 day moving average price of $162.39 and a two-hundred day moving average price of $174.05.

3M (NYSE:MMM) last released its earnings results on Thursday, July 25th. The conglomerate reported $2.20 earnings per share for the quarter, topping analysts’ consensus estimates of $2.04 by $0.16. The firm had revenue of $8.17 billion during the quarter, compared to the consensus estimate of $8.10 billion. 3M had a return on equity of 55.05% and a net margin of 15.27%. The firm’s revenue for the quarter was down 2.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.59 earnings per share. Equities analysts expect that 3M Co will post 9.18 EPS for the current fiscal year.

In other 3M news, insider John Patrick Banovetz sold 1,040 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $170.40, for a total transaction of $177,216.00. Following the completion of the sale, the insider now directly owns 5,974 shares in the company, valued at $1,017,969.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.83% of the stock is owned by corporate insiders.

A number of equities analysts have commented on the company. Citigroup decreased their target price on 3M from $197.00 to $180.00 and set a “buy” rating for the company in a research note on Tuesday. Morgan Stanley reduced their price objective on 3M from $177.00 to $173.00 and set an “equal weight” rating for the company in a research report on Friday, September 27th. Credit Suisse Group boosted their price objective on 3M from $180.00 to $194.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. They noted that the move was a valuation call. UBS Group reduced their price objective on 3M from $201.00 to $182.00 and set a “neutral” rating for the company in a research report on Friday, July 12th. Finally, JPMorgan Chase & Co. boosted their price objective on 3M from $140.00 to $143.00 and gave the stock an “underweight” rating in a research report on Thursday, October 10th. Five research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company’s stock. 3M currently has an average rating of “Hold” and an average price target of $179.54.

3M Profile

3M Company operates as a technology company worldwide. The company's Industrial segment offers tapes, abrasives, adhesives, ceramics, sealants, specialty materials, purification products, closure systems, acoustic systems products, automotive components, abrasion-resistant films, and paint finishing and detailing products.

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Institutional Ownership by Quarter for 3M (NYSE:MMM)

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